BlackBerry’s big changes: misfires or savvy moves?

Commentary: Can a new name, devices and celebrity sparkle save RIM?

SAN FRANCISCO (MarketWatch) — The company formerly known as Research In Motion Ltd. unveiled two big corporate changes as part of its widely anticipated launch of its new BlackBerry 10 product line up, including changing its name to BlackBerry, a move that is part of its effort to re-invent itself.

Even as the company appeared to impress many with its new smartphones, the Z10 and the Q10, based on the reaction of some in the Twitter-sphere, investors appeared flummoxed by RIM’s
US:RIMM
name change to BlackBerry and its new ticker symbol, BBRY.

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Its shares tumbled soon after the news and were down just over 7%. Its shares have also run up over the last few weeks, ahead of the launch, a major bet on a new operating system and new devices. Investors might also be reacting to the news that BlackBerry’s new phones won’t be available in the U.S. until sometime in March, due to the ongoing carrier approval process. Read more about BlackBerry’s big launch.

In addition, the company named Grammy-award winning musician Alicia Keys as its global creative director, a move that seemed to smack of desperation, with many wondering what input a busy, in-demand musician and singer could have at the struggling company, other than acting as a paid official spokeswoman.

BlackBerry’s new products, one with a QWERTY keyboard, seemed very cool. New features include a central “Hub” where users can keep track of everything in one place, and seamlessly switch from app to app, without closing anything. Chief Executive Thorsten Heins also demonstrated how one could multi-task, while using only a thumb. In addition, BlackBerry was vague on the pricing, mentioning a $149.99 price with a three-year contract, but it was not clear in what market.

But investors were likely wondering about what kind of impact changing the company name will have, in addition to the perception that the celebrity hire was a desperation move. Only time will tell whether these changes will help or hinder the bet-the-company launch.

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